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IHH Healthcare Berhad has received SEBI approval and dispatched the Letter of Offer for the Malar Open Offer on October 9, 2025. The open offer is for acquisition of up to 4,894,308 equity shares, representing 26.11% of the voting share capital of Fortis Malar Hospitals. The offer price is INR 17.6 per share, with eligible public shareholders (those who held shares on December 24, 2018 and continue to hold as of the identified date of October 6, 2025) also entitled to interest of INR 18.36 per share at 10% per annum from the Supreme Court order date of September 22, 2022. This is part of IHH's broader transaction that includes a preferential allotment in Fortis Healthcare and an open offer for Fortis Healthcare shares. The transaction is expected to be completed in Q4 2025.
Eligible shareholders can now tender their shares at INR 17.6 plus interest of INR 18.36 per share, potentially representing a meaningful exit opportunity. The offer price sets a near-term price benchmark for the stock, and successful completion will increase IHH's stake in Fortis Malar.